Roku Working on Plans to File Confidentially for IPO

Telis Demos was first to report that Roku Inc., maker of streaming media players, TVs and software, is working with Bank of America Merrill Lynch and Citigroup on a potential $150 million initial public offering, according to sources.

The story as it appeared on Dow Jones:
Oct. 24, 2014, 3:41 PM EDT: Roku Working On Plans To File Confidentially For IPO – Sources

Roku Inc., maker of streaming media players, TVs, and software, is working on plans to file confidentially for an initial public offering, according to people familiar with the matter.

The company has been working with investment banks including Bank of America Merrill Lynch and Citigroup Inc. on preparing for a potential offering that could raise as much as $150 million, the people said. The timing of any deal isn’t yet set, and it also isn’t yet clear what valuation Roku might seek, they added.

Roku, founded in 2002, became known to consumers through small boxes that hook up to TVs and stream video from services including Netflix Inc. and Hulu. Its business grew as some people “cut the cord” and canceled their cable-TV service. Roku said in September that it had sold 10 million streaming video players in the U.S.

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